The Iranian businessman is expected to own 77.2 per cent no later than July 2019

Farhas Moshiri has increased his shares in Everton by almost 20% to assume greater control of the Toffees.

The Iranian businessman increased his shareholding in the club from 49.9% to 68.6% in a real statement of commitment to the club.

Moshiri has increased his shareholdings in Everton by nearly 20%

A statement on the Merseysiders official website read: “Everton Football Club today announces that major shareholder Farhad Moshiri has further committed to and increased his shareholding in the Club.

“Farhad Moshiri previously owned 49.9 per cent of the Club and in line with the agreement made at the time of his original investment, he has purchased 18.7 per cent through Blue Heaven Holdings Ltd, giving him a total holding of 68.6 per cent, which is expected to increase to 77.2 per cent no later than July 2019.”

Everton fans will undoubtedly be reassured by the announcement, particularly considering the promise of a new stadium on Liverpool docks.

The Iranian businessman acquired 49.9 per cent of the Merseyside club after selling his stake in Arsenal in February 2016.

Given his former connection to the Gunners, there were rumours former Toffees boss Sam Allardyce was going to be replaced by Arsene Wenger in the summer.

Moshiri, whose personal wealth is estimated at $1.7billion according to Forbes, has shares in various metal companies in the UK and in Russia and lives in Monaco.